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Stamp Duty - Budget 2010
Comments
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I'm annoyed with this too. We're now in rented after selling our property so we didnt lose our buyers and I am a first time buyer but my husband isnt, why should it only apply to FTB's at all, it would be fairer to make it all sales upto a certain point. Stamp Duty should be calculated like income tax too and then you wouldnt get price ceilings on propertys like we have now at 250k. I really feel for those who have completed in the 3 month gap between the 175k relief and this new 250k relief. I think Darling will have made more people annoyed with the government than not.0
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why should it only apply to FTB's at all, it would be fairer to make it all sales upto a certain point.
What, and re-stoke HPI?
Perhaps becuase FTBs have been screwed senseless for the past 10 years with unchecked House price increases?
Watching house prices almost triple over 10 years was hardly 'fair', but as an owner I am sure your property owning husband wasnt complaining.
This was always going to be about wasting more taxpayers money in a headline grabbing attempt that deflected attention from the more unsavoury bits. It was an election budget, note one for long term fiscal stability.
Other point, the FTB stamp duty holiday lasts 2 years. The 1 mill 5% doesnt stop. The numbers of FTBs able to stump together a mortgage is next to nothing and they know that. A lot of FTBs that would have had family assistance bought in the aftermath of the last dip, what we have from here on in is a purer market, one in which FTBs will really struggle to pull together a 10% deposit. The significance of this scheme is inconsequential, although I agree, it has seemed to p*ss a lot of people off on here!0 -
+1
I'm in the same boat. We completed on 5th March, and we could really have done with that extra £1300, ok it's not much but we could have used it for furnishings. I've emailed my solicitor to ask if there is any way of claiming it back (although the official paperwork says no), but I reckon all that will do is have the solicitor ROFL.
Agreed like you suggested, they probably knew about before January so why simply not extend the holiday and just increase it today instead of stopping and starting it. Makes no sense really.QUOTE]
The problem with that is where to draw the line. If it was put back to Jan for example then the FTBs from 2009 will equally be angry. Im probably saying this because I have recently been accepted and it wont affect me but I can see why you are angry/annoyed/gutted about it0 -
+1
I'm in the same boat. We completed on 5th March, and we could really have done with that extra £1300, ok it's not much but we could have used it for furnishings. I've emailed my solicitor to ask if there is any way of claiming it back (although the official paperwork says no), but I reckon all that will do is have the solicitor ROFL.
Agreed like you suggested, they probably knew about before January so why simply not extend the holiday and just increase it today instead of stopping and starting it. Makes no sense really.The problem with that is where to draw the line. If it was put back to Jan for example then the FTBs from 2009 will equally be angry. Im probably saying this because I have recently been accepted and it wont affect me but I can see why you are angry/annoyed/gutted about it
Well not really, as this is slightly different. They've had a SD holiday for a year, and most likely knew what they had planned for new holiday and instead of doing the sensible thing and just extending the SD until today and just increasing the upper limit today they just stopped it for a couple of months for no reason at all.
Simply shooting themselves in the foot. Doing it that way has probably lost them more voters than they have gained???0 -
Well not really, as this is slightly different. They've had a SD holiday for a year, and most likely knew what they had planned for new holiday and instead of doing the sensible thing and just extending the SD until today and just increasing the upper limit today they just stopped it for a couple of months for no reason at all.
Simply shooting themselves in the foot. Doing it that way has probably lost them more voters than they have gained???
Thats a fair point. Maybe contacting HMRC might enable you to get that money back. If people had seen that coming then i presume that you would have held off the completion for a couple more weeks. That extra cash could be very handy0 -
While I am about to buy and will benefit massively from this no stamp duty given the cost of london property... the first thing that crossed my mind when it was announced was "hell, what about all those people who purchased between Jan 1st and now!"
Unfortunately, I dont think you have any hope of getting your money back!0 -
newfoundglory wrote: »While I am about to buy and will benefit massively from this no stamp duty given the cost of london property... the first thing that crossed my mind when it was announced was "hell, what about all those people who purchased between Jan 1st and now!"
Unfortunately, I dont think you have any hope of getting your money back!
Neither do I to be honest, but you never know.0 -
cheeryoleary wrote: »Obviously, trying to claim this relief when not a FTB would be fraud.
1. Will a government agency verify any claim? If so, which agency, and what is the cost of providing this service?
I suspect the burden will fall on the solicitor completing the transaction - there will most likely be a duty on them to confirm that the purchasers are FTBs. Obviously it's not going to be in their interests to tell porkies.2. What is the penalty for defrauding HMRC?
As has been mentioned... that'll be prison - up to 10 years for fraud.
Amy.0 -
Chris_Yates wrote: »had to pay 1.5K just for the privilige of buying a house
Write to your MP.
But they need to keep taking taxes off people to keep house prices propped up longer.`0 -
Very true, people that completed in jan onwards would not be very happy if he brought it back down 3 months later.
My son has just purchased a property as a first time buyer, he was ready to exchange before the January deadline but someone up the chain stalled, resulting in a bill for stamp duty. Is there any way he can claim this back?:(
Dave0
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